Northwest Bancshares Inc. Sells 7,306 Shares of The Allstate Co. (NYSE:ALL)

Northwest Bancshares Inc. lessened its stake in The Allstate Co. (NYSE:ALL - Free Report) by 17.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,722 shares of the insurance provider's stock after selling 7,306 shares during the quarter. Allstate accounts for 1.1% of Northwest Bancshares Inc.'s investment portfolio, making the stock its 17th largest position. Northwest Bancshares Inc.'s holdings in Allstate were worth $6,585,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its stake in Allstate by 18.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider's stock worth $569,114,000 after purchasing an additional 472,040 shares during the period. Raymond James & Associates lifted its stake in shares of Allstate by 10.6% during the third quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider's stock worth $287,851,000 after purchasing an additional 145,986 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Allstate by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider's stock worth $229,545,000 after acquiring an additional 47,038 shares during the period. Pathway Financial Advisers LLC raised its stake in shares of Allstate by 18,472.5% during the third quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider's stock valued at $199,642,000 after purchasing an additional 1,047,019 shares during the period. Finally, Hsbc Holdings PLC increased its position in shares of Allstate by 3.3% during the second quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider's stock worth $160,948,000 after acquiring an additional 31,789 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

Insider Transactions at Allstate

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the firm's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the sale, the insider now owns 27,364 shares in the company, valued at approximately $5,236,922.32. This trade represents a 57.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is owned by insiders.

Allstate Stock Performance

Shares of NYSE ALL traded down $0.19 during trading hours on Wednesday, hitting $196.41. 375,225 shares of the stock were exchanged, compared to its average volume of 1,533,348. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The company's 50 day moving average is $190.50 and its 200 day moving average is $177.22. The firm has a market capitalization of $52.01 billion, a P/E ratio of 12.73, a P/E/G ratio of 1.76 and a beta of 0.48. The Allstate Co. has a one year low of $134.17 and a one year high of $201.00.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, beating analysts' consensus estimates of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The firm had revenue of $16.63 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same period in the prior year, the firm earned $0.81 EPS. The business's revenue was up 14.7% on a year-over-year basis. On average, research analysts expect that The Allstate Co. will post 16.01 EPS for the current year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Friday, November 29th. Allstate's payout ratio is 23.83%.

Analysts Set New Price Targets

Several brokerages recently weighed in on ALL. Keefe, Bruyette & Woods boosted their price objective on Allstate from $222.00 to $225.00 and gave the company an "outperform" rating in a report on Wednesday, November 6th. StockNews.com lowered Allstate from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, August 21st. Jefferies Financial Group boosted their price objective on Allstate from $231.00 to $267.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Wells Fargo & Company lifted their target price on Allstate from $175.00 to $186.00 and gave the company an "equal weight" rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Allstate from $205.00 to $207.00 and gave the stock an "overweight" rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Allstate has an average rating of "Moderate Buy" and a consensus target price of $214.19.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.